since the start of October, the Australian dollar has fallen ~10% against the US dollar.
this is absolutely wonderful news for NEU, in terms of any money NEU receives from Acadia from now on in terms of royalty payments, priority voucher money, milestone payments.
If the Australian dollar stays at current lows or keeps falling, that represents a straight-to-bottom-line 10% gain compared to what they would have received three months ago.
also, I understand NEU keeps a lot of their money in US dollars, so that stash has just been re-rated upwards as well.
The 10% fall in our dollar also means NEU is 10% cheaper to take over in US dollars…
I cannot understand why the market is not appreciating all of this currency-exchange windfall gain .
NEU Price at posting:
$13.00 Sentiment: None Disclosure: Held
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